Opinion: Citi of Iraq

This transcript has been automatically generated and may not be 100% accurate.

... I ... back to Opinion Journal why Mary Kissel ... the rest of the Middle East may be in turmoil Iraq too has its problems are looking at photographs of the fall of Saddam Hussein some years back ... now Citibank things that Iraq is stable enough ... for twelve ... business opportunities but is a really ... awesome job partly fall Harry Graver is here for the update so Parry ... what the Citigroup building in Iraq and why Iraq ... yes ... it's a city hadn't expand into new country since two thousandseven ... and its assigning to make its first venture into rock ... into the Green zone in Baghdad and there's a few ... possible reasons why in Iraq is a booming oil industry still accounts for ninety five percent its exports ... I it's ... not incredibly safe which is the downsize from two thousand deaths ... since that people are so ... which is scared off a lot of banks by ... Citic's huge growth opportunities in ... telecommunications in infrastructure investments from the government and ... the kind of hoping it works out there holding or so we've had three Ajami on the show several times and he ... is a little more skeptical than Citigroup is mean ... when you when you think about Citigroup's history of the due date ... in history accurately judging risks to ... be a good always taxpayer bailout there's there's room for improvement ... on it ... but ... one interesting um is that cities in scaling back a lot of overseas operations ... the new CEO Bible Korbitz ... in last December so ... so they're pulling out of Turkey and Pakistan ... economize Erskine eleven thousand jobs in the said as early as March may pull out another twenty one countries ... so on like the cute dome of the world Iraq seems incredibly different although I want to concede too much I mean are there other banks there are going into ... the of Baghdad the Green zone an area to profit from the synergy opportunities well ... ninety percent of ... certain banks of the niacin cut Kabel though thanks to state-run already and they're kind of happy to be there in there for the one omens that they're very cozy to the ... government but ... there's fifteen or so international banks the day after Citi announced that that may change HSBC ... said it was the day that a day after Citi announced was a ... there'll be ... a really HSBC is legal I guess you can sort of argument Citibank use ... state backed the meantime we bailed out Citi's taxpayers multiple times are they still aching from the Fed window to see as the city's nice that the totally unknown to large governments dealing with banks so they might feel at home in Iraq ... aam ... bite the head of the fact is that the American Taxpayer Celtic huge stake in sitting they don't want to see it over aggressive ... by in Iraq and made investments in ... some say they might go for a trillion dollars in investment might ... be only care about this because we bailed out Sydney some nice hands and said that let's face facts any is ... a major American bank isn't one of our for one K is a mean ... what were invested in Citigroup ... it whether we like it or not many cases correct despite being on the end that was the flea that's the thing show time there's a red flag of that Chief Executive foods ... does lots of Middle East with Citi said that ... a RAK stands out because their economic stability and political instability ... which was below a place in the world or history with those two things work together to their deftly red flags ah for anyone especially with ... how far next to go with city ... well we're half to keep an eye on acts of political instability but economic stability that's from the mouth of